Fund for Export Development in Africa (FEDA) and Africa Finance Corporation (AFC) power ARISE Integrated Industrial Platforms’ (ARISE IIP) US$443 Million capital raise

ARISE IIP, a leading pan-African developer and operator of world-class industrial parks, has announced a significant capital raise of US$443 million. The funding includes a strategic US$300 million investment from Afreximbank’s development impact investment arm, The Fund for Export Development in Africa (FEDA), securing Afreximbank’s FEDA a significant stake in ARISE IIP. Additionally, the capital raise is supported by an additional US$143 million contribution from Africa Finance Corporation (AFC). This […]

October 3, 2024 12

APO International

New report highlights progress and challenges in fighting neglected tropical diseases in Francophone countries

A new report released today provides an assessment of the burden of neglected tropical diseases (NTDs) in Francophone countries, highlighting the significant progress made as well as the challenges that remain. The report calls for renewed political commitment, strengthened cross-border collaboration, and increased resource mobilisation to accelerate progress against these diseases. Launched on the sidelines of the 19th Summit of the Organisation Internationale de la Francophonie (OIF), the report aims […]

October 3, 2024 7

Business / Economics

Omaruru’s Town Council Chief Executive says the town is making progress with regards to road infrastructure

Omaruru's Town Council Chief Executive says the town is making progress with regards to road infrastructure. In a recent interview, Valentinus Sindongo provided this update.

October 3, 2024 23

Business / Economics

26 September-3 October 2024 Weekly Economics Wrap

This week’s economic highlights reflect a mixture of local and international developments impacting investment, currency stability, and market performance across various sectors. Namibia's Investment Reluctance A significant portion of Namibians are hesitant to invest, with the 2023 Old Mutual Financial Services Monitor revealing that 37% of the population is unwilling to accept any investment risks. This trend is particularly pronounced among younger consumers, indicating a broader reluctance to engage […]

October 3, 2024 12

World

Iranian ambassador to the United Nations says his country’s missile strike was a necessity

Iranian ambassador to the United Nations, Amir Saeed Iravani, says his country’s missile strike was a necessity and a proportionate response to Israel's continuous aggressive terrorist acts of the past two months. Iran launched high-speed missile barrages at Israel on Tuesday night, Tehran’s largest-ever attack on its regional foe. Iravani told the UN Security Council that the only way to prevent further escalation is for Israel to immediately cease […]

October 3, 2024 30

South Africa

Former EFF MP Khanyisile Litchfield-Tshabalala Joins MK

To South Africa, where former EFF member of Parliament and human rights activist Khanyisile Litchfield-Tshabalala has officially joined the MK Party. She announced her decision during an interview with fellow activist Ntsiki Mazwai on the Moya podcast. The former ANC uMkhonto we Sizwe operative and South African Navy's first female rear admiral expressed concerns over the current direction of parliament and the government's policies:

October 3, 2024 42

Namibia

Safland to Develop Five New Retail Centers, Including Goreangab Mall

Safland Property Group plans to develop five new retail shopping centers across Namibia, with construction on three set to begin next year. The Brief reports that the N$260 million Goreangab Mall in Windhoek, in partnership with Oryx Properties Limited, is one of the key projects, expected to open in May 2026. Bulk earthworks started on 2 September, with phase one scheduled for completion by November 2024. The 14,500-square-meter mall, anchored […]

October 3, 2024 16

World

Thousands of US dock workers continue to strike

Thousands of us dock workers are on strike for a second day, over better pay and automation. The International Longshoremen's Association told its members at 36 ports across the East and Gulf Coasts to stop working from Tuesday. Economists fear the disruption could impact the US economy and even global supply chains. President Joseph Biden is backing the workers, saying they should be offered a "strong and fair contract". […]

October 3, 2024 17

Africa

Kenya’s Finance Minister Advocates for Lower Lending Rates Amid Falling Inflation

Reuters says Kenya's Finance Minister, John Mbadi, stated on Wednesday that the central bank should begin lowering its lending rate in light of declining inflation. The government aims for an inflation target of 2.5% to 7.5% in the medium term. In September, inflation decreased to 3.6% year-on-year, down from 4.4% in August and 4.3% in July. "The inflation rate is firmly under control now," Mbadi remarked during a Senate appearance.

October 3, 2024 4

Month: October 2024